Arsenal’s link to biofuel maker excites investors before kick off

An Indian company producing fuel from plants that airlines hope can power jets lands in London today.

Nandan, based in Hyderabad and headquartered in the UK, will command a market value of £166 million when it makes its debut on AIM.

Arden Partners, the broker that is something of an expert on Indian companies, raised £16 million of new money for Nandan from fund managers here.

The already profitable business, which is owned by its management and “pre-IPO investors”, grows jatropha plants, the seeds of which can be turned into an oil. Unlike palm oil, these can grow on poor-quality land. Nandan will use the money raised to add to its Indian plantations and will start growing in Africa.